Components of a Global Marketing Strategy Essay

Introduction

In essence, a global marketing strategy (GSM) mainly encompasses of the countries that are from different regions across the globe whose goals is to coordinate a company's marketing efforts in the marketplace in those particular areas (Charter, 2017). Apparently, a global marketing strategy would, therefore, consist of the following components identical brand names, uniform packaging, standardized products, similar advertising messages, coordinated pricing, synchronized product introductions, and coordinated sales campaigns.

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Factors to Consider During Planning

Many people understand that a successful marketing goes long way to having a marketing plan or rather blueprint for action. However, many firms operate without a specific plan but instead focus on issues without committing their future to a long-term strategy. A marketing plan has to be simple yet composed of various elements that keep it effective. When coming up with a marketing plan, one has to consider a good market research so that one can be in a position of understanding the customers in a better way. Additionally, a market research would enable one to be in a defensible position to know a space especially in the customer's mind, and various strategies and tactics for one to meet the company's marketing goals. For all this to be successful there is need to put in place a metrics which will track all the progress towards those goals (Blakeman, 2018). The most important thing that one has to consider is that a market plan has to be well aligned with the company's business plans.

Benefits of a Marketing Strategy

Increase Visibility

It is no doubt that any particular successful campaign is built on visibility. A marketing strategy would, therefore, help one to identify the necessary platform that the customers are actively using. Apparently, this will allow a firm to focus all its outreach where it is likely to generate the most responses (Kerzner & Kerzner, 2017).

Consistent Branding

In case a material is being produced on a piecemeal basis, it becomes easier to lose track of consistency in a particular brand, messaging, and design especially when relying on different vendors in producing the material needed for production. The result of such particular scenario would be a mix of marketing components that do not blend well together (Lidstone & MacLennan, 2017). However, with an integrated marketing plan, each component is likely to be aligned with the business goal. In the long run, one is in apposition of building an inventory of tools that would reinforce a more consistent brand message.

Preferred Pricing

It is normal for marketing vendors not offering their best prices especially for a "one and done" project. However, in case one is aligned to a particular plan, vendors can be able to see what one is trying to achieve within a certain period of time and they will be likely to offer more favorable prices (Lidstone & MacLennan, 2017).

Measurable Results

Information is a critical aspect of a successful marketing. Without coming up with specific goals for a particular marketing outreach, measuring the various responses aligned to a message, and analyzing what is working and those that are not, one is not going to understand what action to take next time (Kerzner & Kerzner, 2017). By creating a marketing plan, one will have a clear roadmap for all the activities necessary in helping your brand remain intact, message on target, while covering a specified reach.

References

Blakeman, R. (2018). Integrated marketing communication: creative strategy from idea to implementation. Rowman & Littlefield.

Charter, M. (Ed.). (2017). Greener marketing: A responsible approach to business. Routledge.

Kerzner, H., & Kerzner, H. R. (2017). Project management: a systems approach to planning, scheduling, and controlling. John Wiley & Sons.

Lidstone, J., & MacLennan, J. (2017). Marketing planning for the pharmaceutical industry. Routledge.